Hexion has reported net sales for the quarter ended 30 June 2017 of US$912 million, a decrease of 4% compared with US$952 million in the prior year period.
‘We were pleased to post overall sales and volumes gains of 7% and 5%, respectively, compared to the prior year and adjusted for our recent divestitures,’ said Craig A Rogerson, recently appointed chairman, president and CEO. ‘Results were highlighted by strong growth in our North American forest products business inclusive of our recently-completed formaldehyde plants, which are expected to generate approximately US$17 million of EBITDA in 2017. We also drove solid year-over-year EBITDA improvement in our oilfield proppants and base epoxy resins businesses in the second quarter of 2017. Our overall results reflected ongoing softness in our specialty epoxy resins business due to the slowdown in Chinese wind energy demand.’
This story is reprinted from material from Hexion, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.